RED MOOSE: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
RED MOOSE
Largest movements
- Receivables within one year -€94,862
down €94,862 (-95.5%), from €99,293 to €4,431
of which Trade receivables: -€89,048
- Cash +€93,794
up €93,794 (+74.0%), from €126,812 to €220,605
mainly Receivables within one year (+€94,862) and Net result for the year (+€61,961)
- Tangible fixed assets -€23,436
down €23,436 (-18.4%), from €127,259 to €103,823
- Deferred charges and accrued income -€6,773
down €6,773 (-21.1%), from €32,098 to €25,325
- Debts after one year -€16,967
down €16,967 (-38.1%), from €44,505 to €27,538
- Other debts -€7,228
down €7,228 (-2.3%), from €309,929 to €302,701
- Financial charges -€3,746
down €3,746 (-44.4%), from €8,437 to €4,691
- Gross operating margin +€1,966
up €1,966 (+1.8%), from €107,246 to €109,212
- Taxes +€1,165
up €1,165 (+7.5%), from €15,458 to €16,623
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €412,119 | €384,044 | -€28,075 | -6.8% |
| Fixed assets | 21/28 | €127,259 | €103,823 | -€23,436 | -18.4% |
| Tangible fixed assets | 22/27 | €127,259 | €103,823 | -€23,436 | -18.4% |
| Land and buildings | 22 | €66,791 | €60,297 | -€6,495 | -9.7% |
| Plant, machinery and equipment | 23 | €20,014 | €18,327 | -€1,687 | -8.4% |
| Furniture and vehicles | 24 | €11,236 | €6,565 | -€4,672 | -41.6% |
| Leasing and similar rights | 25 | €29,217 | €18,635 | -€10,582 | -36.2% |
| Current assets | 29/58 | €284,859 | €280,220 | -€4,639 | -1.6% |
| Stocks and contracts in progress | 3 | €26,657 | €29,859 | +€3,202 | +12.0% |
| Stocks | 30/36 | €26,657 | €29,859 | +€3,202 | +12.0% |
| Amounts receivable within one year | 40/41 | €99,293 | €4,431 | -€94,862 | -95.5% |
| Trade receivables | 40 | €93,479 | €4,431 | -€89,048 | -95.3% |
| Other amounts receivable | 41 | €5,814 | €0 | -€5,814 | -100% |
| Cash at bank and in hand | 54/58 | €126,812 | €220,605 | +€93,794 | +74.0% |
| Deferred charges and accrued income | 490/1 | €32,098 | €25,325 | -€6,773 | -21.1% |
| Total equity and liabilities | 10/49 | €412,119 | €384,044 | -€28,075 | -6.8% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €391,659 | €363,584 | -€28,075 | -7.2% |
| Amounts payable after more than one year | 17 | €44,505 | €27,538 | -€16,967 | -38.1% |
| Financial debts | 170/4 | €44,505 | €27,538 | -€16,967 | -38.1% |
| Amounts payable within one year | 42/48 | €341,593 | €334,559 | -€7,034 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €16,458 | €16,967 | +€509 | +3.1% |
| Trade debts | 44 | €1,803 | €2,141 | +€337 | +18.7% |
| Suppliers | 440/4 | €1,803 | €2,141 | +€337 | +18.7% |
| Taxes, remuneration and social security | 45 | €13,403 | €12,751 | -€652 | -4.9% |
| Taxes | 450/3 | €13,403 | €12,751 | -€652 | -4.9% |
| Other amounts payable | 47/48 | €309,929 | €302,701 | -€7,228 | -2.3% |
| Accrued charges and deferred income | 492/3 | €5,560 | €1,486 | -€4,074 | -73.3% |
| Non-recurring operating income | 76A | - | €17,451 | +€17,451 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,662 | €24,050 | +€389 | +1.6% |
| Other operating charges | 640/8 | €2,023 | €2,238 | +€215 | +10.6% |
| Gross operating margin | 9900 | €107,246 | €109,212 | +€1,966 | +1.8% |
| Operating profit (loss) | 9901 | €81,561 | €82,923 | +€1,362 | +1.7% |
| Financial income | 75/76B | €0 | €352 | +€352 | +880,175% |
| Recurring financial income | 75 | €0 | €102 | +€102 | +255,175% |
| Non-recurring financial income | 76B | - | €250 | +€250 | |
| Financial charges | 65/66B | €8,437 | €4,691 | -€3,746 | -44.4% |
| Recurring financial charges | 65 | €8,437 | €4,691 | -€3,746 | -44.4% |
| Profit (loss) for the period before taxes | 9903 | €73,125 | €78,584 | +€5,459 | +7.5% |
| Income taxes | 67/77 | €15,458 | €16,623 | +€1,165 | +7.5% |
| Profit (loss) for the period | 9904 | €57,666 | €61,961 | +€4,295 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €57,666 | €61,961 | +€4,295 | +7.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.